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Home > Prudential Regulation Authority > Depositor and dormant account protection - SS18/15 UPDATED
 

Depositor and dormant account protection - SS18/15 UPDATED

16 January 2017

​19 September 2017 - Content on this page has been updated see:

Depositor and dormant account protection - SS18/15 UPDATE

For information only, the original publication issued on 16 January 2017 is available below.
 
Update 16 January 2017: SS18/15 was updated following publication of PS1/17 ‘Deposit protection limit’. See the Appendix for details on updates made to reflect the revised guidance and procedures for the changes to the deposit protection limit from £75,000 to £85,000.
 
This supervisory statement sets out the expectations of the Prudential Regulation Authority (PRA) on deposit-takers with regards to the depositor protection rules. Areas covered include:
  • Eligibility for deposit protection
  • Disclosure
  • Marking eligible deposits and transitional issues
  • Temporary high balances
  • Dormant Account Scheme information requirements
  • Calculation of levies
  • Single Customer View
  • In-flight transactions
  • Continuity of access
  • The change in the deposit protection limit
This statement is intended to be read together with the rules contained in the Depositor Protection and Dormant Account Scheme Part of the PRA Rulebook. This statement is relevant to deposit-takers to which these rules apply.
By setting out the PRA’s expectations with regards to the Depositor Protection and Dormant Account Scheme rules, this statement may help to minimise the adverse effect that the failure of a PRA-authorised firm could have on financial stability and enhance depositor confidence and therefore contribute towards the safety and soundness of firms.
Supervisory Statement
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